Tax Hikes on the Rise?

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Tax Hikes on the Rise?
- cheylesmore
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Tax Hikes on the Rise?

• The pandemic has led to the NHS and other social
  care providers coming under tremendous pressure
  given the swarm of Covid cases which has slammed
  the brakes on patients requiring treatments for
  other ailments such as cancer.

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Tax Hikes on the Rise?

• Nevertheless, the cost of an ameliorated social
  care system is an astounding 10 billion annually
  which would invariably require a commensurate
  increase in government revenues to be able to
  fund such an improvement over the long term. The
  chancellor and health secretary have made clear
  to the prime minister that any improvements
  wouldnt be sustainable without such action with
  the unfortunate implication of such taxes being a
  heavier burden placed on middle-income families.

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Tax Hikes on the Rise?
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Tax Hikes on the Rise?

• Whilst alternatives as to how this sum should be
  raised are numerous, care must be taken by the
  Treasury to avoid any backlash from the public
  who have already suffered economically and
  mentally from the pandemics impact for the
  nearly one and a half years. The chancellor has
  thus decided to delay introducing any new
  taxation policies after factoring the continuing
  economic turbulence spawned as a result of the
  spread of the Delta variant which has questioned
  the efficacy of vaccines.

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Tax Hikes on the Rise?

• A final option is to impose a new kind of tax
  known as the social solidarity levy which would
  be primarily targeted at individuals aged around
  or over 40, with consensus amongst experts that
  such a levy of around 2 to 3 would be
  sufficient to fund the desired improvement in
  Englands social care system which many have
  argued lacks the required resources and support
  to maintain its quality of service.

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Tax Hikes on the Rise?

• Want to stay ahead of the curve with the latest
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